Netflix is out; Paramount is in; and—like Paramount’s logo—the ad industry has a mountain of questions.
Following Warner Bros. Discovery’s announcement on Feb. 26 that Paramount’s new offer of $31 per share was superior to its deal with Netflix, the streamer’s co-CEOs, Ted Sarandos and Greg Peters, said their company is out as “the deal is no longer financially attractive.”
Though Paramount’s offer for the whole company has a long road to get the deal through regulators, the potential merger with WBD is set to shake up advertising and TV, with impacts on linear, streaming, theaters, and beyond.